In these days of economic turmoil, whether you're feeling the pinch or not, Michael Mullin's post about his allowance gives a person food for thought. It is so easy to whip out the credit card to pay for those little lattes and lunches. I consider myself a frugal person, but I must admit that I've fallen into this habit. After all, when you use cash, what happens when you run out of cash? Perish the thought.
Then along comes Debe Maxwell with a challenge to all of us playing here in the Rain. She wonders how many of us could actually get along for a month with a $60 allowance for personal spending. She's not talking about groceries, gas, or other household expenses. She's talking about the money you spend on yourself for lunch out, that to-die-for pair of shoes, or new golf club for you guys.
I'm taking her up on the challenge. Quite smugly, I might add. I think I'll fall far short of spending $60 on myself. But I may be in for a surprise - I recently walked into a dress shop just looking for a pair of pants and left after spending over $400. Whew! At least I got that out of my system before this
challenge came up.
Be sure to comment about your experience. Different people will have different weaknesses. Mine happens to be kitchen gadgets and books and.... Well, let's just say I can resist Starbucks, fast food, and clothes. And yes, I've been called weird.
So, here are the rules:
- Sixty bucks cash. That's it. Anything you spend on yourself must come out of this cash and when you're out of cash, no more spending until December 1.
- If you live in an area of the country with a higher cost of living, raise the amount, but don't make it easy on yourself.
- If you have any money left over at the end of the month, find something useful or someone needy to spend it on. So, if you decide to try it again in December, that means no rollover cash. But trust me. You'll feel good about it and what's not to like about that?
So, are you up for it? What things will be begging you to pull that cash out of your wallet?
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